Academy News

The Academy’s Council on Professionalism has launched a member-wide survey to determine the landscape of professional and ethical issues that its members encounter. We have teamed up with professors from Drake University with expertise in surveying ethical issues facing professionals to survey members which we hope will yield much insight into matters that impact the actuarial profession.  Given the broad base of our membership, we expect to utilize this survey to hear from a wide variety of backgrounds including consultants, in-house insurance practitioners, government actuaries, and others.  Members are receiving the survey from “Karen Terry, Academy VP” and we strongly encourage you to participate in this short survey to help the Academy better serve the actuarial profession and further our important professionalism mission. (November 01, 2012)

Read about Franz Kafka’s work at a Prague insurance company, wellness programs worldwide, using system dynamics to model obesity, and much more. Also check out Actuarial Software Now, a special supplement published with this issue of Contingencies. (November 01, 2012)

Read about the Academy’s recent activities in the latest edition of the Actuarial Update. (November 01, 2012)

Read about recent health care reform activities in the latest edition of HealthCheck. (October 31, 2012)

The Casualty Actuarial Society (CAS), Canadian Institute of Actuaries, Society of Actuaries, and the American Academy of Actuaries’ Property/Casualty Extreme Events Committee, with input from the CAS’s Climate Index Working Group, have published a report, “Determining the Impact of Climate Change on Insurance Risk and the Global Community,” responding to the emerging risk of climate change by collaborating to recommend, support, and perform research on climate change and assess the potential risk management implications for the insurance industry.  (October 31, 2012)

Read the latest issue of This Week—the Academy's end-of-week digital newsletter, compiling a week's worth of news, updates, and media coverage in one convenient, easy-to-use publication. (October 26, 2012)

Cecil D. Bykerk was installed as the Academy’s 48th President at the Annual Meeting and Awards Luncheon on Oct. 15. The focus of his presidency will be to bring an actuarial perspective to bear on ever-increasing health care costs in the United States. (October 19, 2012)

The Academy’s board of directors has elected Tom Terry to the position of president-elect. Terry will succeed Cecil Bykerk as president for the 2013-2014 term. The Academy also announced it elected five members to fill officer positions. (October 19, 2012)

The Academy held its Annual Meeting and Awards Luncheon on Oct. 15. Outgoing President David Sandberg honored Julia Phillips with the Robert J. Myers Public Service Award, Curtis Huntington with the Jarvis Farley Service Award (click here to view his acceptance speech), and Shawna Ackerman, Mita Lodh, and Mike Ward with Awards for Outstanding Volunteerism. Sandberg also welcomed new regular directors to the Academy Board of Directors. (October 19, 2012)

Read the latest issue of This Week—the Academy's end-of-week digital newsletter, compiling a week's worth of news, updates, and media coverage in one convenient, easy-to-use publication. (October 19, 2012)

Read about the recent revision, adoption, and approval of several ASOPs, plus more! (October 18, 2012)

The Academy's International Accounting Standards Task Force (IASTF) will present a webinar on the FASB and IASB Insurance Contracts Project. Attendees will learn about IASB's work on Phase 2 of the project and the resulting significant changes to the International Financial Reporting Standard (IFRS) on insurance contracts, and potential changes to U.S. GAAP. (October 16, 2012)

The ASB approved a revision of ASOP No. 25, Credibility Procedures, which is now applicable to all practice areas while providing guidance to actuaries in the selection of a credibility procedure and the assignments of credibility values to sets of data. Comments for ASOP No. 25 are due Dec. 31, 2012. The ASB also adopted ASOP No. 46, Risk Evaluation in Enterprise Risk Management, which provides guidance to actuaries when performing professional services with respect to risk evaluation systems used for the purposes of enterprise risk management, including designing, implementing, using, and reviewing those systems. The effective date for ASOP No. 46 is May 1, 2013.  (October 16, 2012)

Read the latest issue of This Week—the Academy's end-of-week digital newsletter, compiling a week's worth of news, updates, and media coverage in one convenient, easy-to-use publication. (October 12, 2012)